Point Foundation is located in Los Angeles, CA. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Point Foundation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Point Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Point Foundation generated $10.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $5.7m during the year ending 06/2023. While expenses have increased by 3.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO GRANT SCHOLARSHIPS TO LESBIAN, GAY, BISEXUAL AND TRANSGENDER (LGBT) STUDENTS OF MERIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP & SCHOLAR SUPPORT: AS OF JUNE 2023, POINT FOUNDATION (POINT) HAS AWARDED OR WILL AWARD 2,367 SCHOLARSHIPS AND HAS INVESTED MORE THAN $47 MILLION IN OUR LGBTQ SCHOLARS. POINT FOUNDATION CURRENTLY AWARDS FOUR TYPES OF SCHOLARSHIPS: OUR TRADITIONAL FLAGSHIP SCHOLARSHIP FOR STUDENTS PURSUING BACHELOR'S, GRADUATE, OR PROFESSIONAL DEGREES, COMMUNITY COLLEGE SCHOLARSHIPS, BIPOC SCHOLARSHIPS (SPECIFICALLY FOR BLACK, INDIGENOUS AND PEOPLE OF COLOR) AND OPPORTUNITY GRANTS. ALL SCHOLARSHIP PROGRAMS PROVIDE FINANCIAL ASSISTANCE. IN ADDITION, THE FLAGSHIP, COMMUNITY COLLEGE, AND BIPOC SCHOLARSHIPS INCLUDE LEADERSHIP DEVELOPMENT AND ACADEMIC SUPPORT PROGRAMMING DESIGNED TO SUPPORT STUDENT SUCCESS. SCHOLARS BENEFIT FROM A COMMUNITY OF LGBTQ STUDENTS AND ALUMNI, A MENTOR OR COACH, ACADEMIC SUPPORT FROM A SCHOLAR ADVOCATE, LEADERSHIP TRAINING, AND PROFESSIONAL DEVELOPMENT. BY PROVIDING LGBTQ STUDENTS WITH THE FINANCIAL AND PERSONAL RESOURCES TO SUCCEED IN HIGHER EDUCATION, POINT FOUNDATION IS BUILDING A GENERATION OF LGBTQ LEADERS WITH THE SKILLS TO ADVOCATE FOR EQUITY AND BELONGING IN THEIR CHOSEN FIELDS AND ACROSS SOCIETY.DURING THE 2022-2023 ACADEMIC YEAR, POINT FOUNDATION SUPPORTED 558 STUDENTS INCLUDING 70 POINT FLAGSHIP SCHOLARS, 91 COMMUNITY COLLEGE SCHOLARS, 280 BIPOC SCHOLARS AND 117 OPPORTUNITY GRANT RECIPIENTS. AS A CHAMPION FOR EQUAL ACCESS TO HIGHER EDUCATION, POINT FOUNDATION IS PROUD THAT MANY POINT SCHOLARS ARE FROM GROUPS TRADITIONALLY UNDERREPRESENTED ON COLLEGE CAMPUSES. OF THE 2022-23 POINT SCHOLARS: 83% IDENTIFY AS A RACIAL OR ETHNIC GROUP OTHER THAN WHITE; 42% IDENTIFY AS TRANSGENDER OR NON-BINARY; AND 55% ARE THE FIRST IN THEIR FAMILIES TO GO TO COLLEGE.RESEARCH FROM THE NATIONAL MENTORING RESEARCH CENTER PROVIDES EVIDENCE THAT AFFIRMING MENTORING RELATIONSHIPS PROMOTE POSITIVE EDUCATIONAL OUTCOMES FOR LGBTQ YOUTH. POINT'S COMMITMENT TO EFFECTIVE MENTORING AND COACHING STARTS WITH TRAINING MENTORS ON BEST PRACTICES IN LGBTQ MENTORING AND COACHING AT THE BEGINNING OF THE YEAR AND YEAR-END TRAININGS ABOUT DEEPENING THE MENTORING RELATIONSHIP WITH CONTINUING SCHOLARS OR SHIFTING TO AN INFORMAL MENTORING RELATIONSHIP WITH GRADUATING SCHOLARS.A TOTAL OF 107 VOLUNTEERS SERVED AS MENTORS AND COACHES TO FLAGSHIP AND COMMUNITY COLLEGE SCHOLARS. IN AGGREGATE, MENTORS AND COACHES HAD MORE THAN 850 MEETINGS WITH SCHOLARS TO PROVIDE PERSONAL AND PROFESSIONAL DEVELOPMENT. THROUGH AN EXCLUSIVE ONLINE PORTAL, POINT PROVIDES BIPOC SCHOLARS AND OPPORTUNITY GRANT RECIPIENTS WITH YEAR-ROUND ACCESS TO LGBTQ PEERS WHO SHARE THEIR INSIGHTS AND TIPS FOR SUCCESS. BIPOC SCHOLARS ALSO BENEFITTED FROM TWO EXPERT COACHING PANEL DISCUSSIONS FOCUSED ON THE INTERSECTIONAL EXPERIENCES OF LGBTQ BIPOC STUDENTS. ONE SESSION OFFERED STRATEGIES FOR CHALLENGING IMPOSTER SYNDROME AND THE SECOND PROVIDED RESOURCES FOR MENTAL HEALTH AND WELLNESS.
LEADERSHIP DEVELOPMENT: POINT PROVIDED A BLEND OF IN-PERSON AND ONLINE PROGRAMMING IN 2022-23. THE HIGHLIGHT OF THIS YEAR'S IN-PERSON PROGRAMMING WAS THE INAUGURAL CAREER EXPOSURE PROGRAM, WHICH ALLOWED SIX POINT SCHOLARS TO VISIT THE CORPORATE HEADQUARTERS OF COACH AND VICTORIA'S SECRET TO MEET WITH COMPANY EXECUTIVES AND LEADERS FOR EACH COMPANY'S LGBTQ ERG. ONLINE PROGRAMMING IN 2022-23 INCLUDED TWO OPPORTUNITY FAIRS AT WHICH SCHOLARS LEARNED ABOUT INTERNSHIP AND CAREER OPPORTUNITIES AT POINT'S PARTNER COMPANIES, INFORMATIONAL SESSIONS ABOUT WORKING FOR THE WHITE HOUSE THROUGH THE OFFICE OF PRESIDENTIAL PERSONNEL, A FINANCIAL LITERACY WORKSHOP, AND A SEMINAR WITH EMINENT HISTORIAN SUSAN STRYKER. THE COMMUNITY COLLEGE CONFERENCE WAS HELD IN SPRING AND FALL, WITH A TOTAL OF 50 COMMUNITY COLLEGE SCHOLARS ENGAGING WITH SEASONED EXPERTS THAT SHARED CRITICAL SKILLS TO HELP STUDENTS TRANSFER TO A FOUR-YEAR UNIVERSITY AND NAVIGATE THE JOB MARKET. SESSIONS INCLUDED TRANSFER 101, RETHINKING IMPOSTER SYNDROME, NAVIGATING ORGANIZATIONAL CHANGE, EFFECTIVE INTERVIEWING, RESUME WRITING 101, AND NETWORKING TO CREATE OPPORTUNITY.THIS YEAR AND EVERY YEAR OUR PRIORITY IS SERVING OUR STUDENTS, ENABLING THEM TO FULFILL THEIR ACADEMIC GOALS AND, RECOGNIZING THAT LGBTQ PEOPLE ARE UNDERREPRESENTED IN LEADERSHIP ROLES IN ALMOST EVERY INDUSTRY, BECOME THE LEADERS OF TOMORROW.
SCHOLAR SELECTIONS:THE FLAGSHIP SCHOLARSHIP APPLICATION OPENED OCTOBER 26, 2022, AND CLOSED DECEMBER 28, 2022. WE RECEIVED 2,608 APPLICATIONS. OF THESE, 1,131 ADVANCED TO THE SEMIFINAL ROUND AND WERE ASKED TO SUBMIT ADDITIONAL MATERIALS. 47 CANDIDATES ADVANCED TO THE FINAL ROUND. FINALISTS SUBMITTED A RECORDED PRESENTATION ABOUT THEIR ACADEMIC INTERESTS, LEADERSHIP, AND SERVICE. ULTIMATELY, 23 CANDIDATES WERE SELECTED AS POINT SCHOLARS.THE COMMUNITY COLLEGE SCHOLARSHIP APPLICATION OPENED NOVEMBER 3, 2022, AND CLOSED JANUARY 9, 2023. WE RECEIVED 370 APPLICATIONS. OF THESE, 241 ADVANCED TO THE FINAL ROUND. FINALISTS SUBMITTED A RECORDED PRESENTATION OF THEIR PASSIONS AND ACADEMIC AND PROFESSIONAL GOALS. ULTIMATELY, 94 CANDIDATES WERE SELECTED AS COMMUNITY COLLEGE SCHOLARS.WE RUN TWO SELECTION CYCLES PER YEAR FOR THE BIPOC SCHOLARSHIP. THE FIRST CYCLE OPENED SEPTEMBER 14, 2022, AND CLOSED OCTOBER 26, 2022. WE RECEIVED 487 APPLICATIONS. OF THESE, 161 CANDIDATES WERE SELECTED AS BIPOC SCHOLARS. THE SECOND CYCLE OPENED FEBRUARY 15, 2023, AND CLOSED MARCH 15, 2023. WE RECEIVED 570 APPLICATIONS. ULTIMATELY, 119 CANDIDATES WERE SELECTED AS BIPOC SCHOLARS.OPPORTUNITY GRANT RECIPIENTS DO NOT APPLY; INSTEAD, WE SELECT HIGHLY RATED FLAGSHIP AND COMMUNITY COLLEGE APPLICANTS THAT ADVANCED TO THE SEMIFINALIST AND FINALIST ROUNDS BUT DID NOT RECEIVE ONE OF THOSE SCHOLARSHIPS. WE AWARDED 118 OPPORTUNITY GRANTS IN TOTAL.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Peter Lichtenthal Co-Chair | OfficerTrustee | 6 | $0 |
Brian Dent Co-Chair | OfficerTrustee | 6 | $0 |
Aaron Leifer Co-Vice Chair | OfficerTrustee | 6 | $0 |
Sarah Madey Co-Vice Chair | OfficerTrustee | 6 | $0 |
Jenna Gambaro Secretary | OfficerTrustee | 6 | $0 |
Ben Harman Treasurer | OfficerTrustee | 6 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $26,245 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $10,034,705 |
Noncash contributions included in lines 1a–1f | $72,382 |
Total Revenue from Contributions, Gifts, Grants & Similar | $10,060,950 |
Total Program Service Revenue | $0 |
Investment income | $440,208 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $5,309 |
Net Income from Fundraising Events | $5,965 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $10,563,939 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $1,640,986 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,010,364 |
Compensation of current officers, directors, key employees. | $108,866 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,268,129 |
Pension plan accruals and contributions | $32,565 |
Other employee benefits | $220,199 |
Payroll taxes | $157,281 |
Fees for services: Management | $0 |
Fees for services: Legal | $5,573 |
Fees for services: Accounting | $40,600 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $75,000 |
Fees for services: Investment Management | $15,522 |
Fees for services: Other | $119,784 |
Advertising and promotion | $0 |
Office expenses | $192,555 |
Information technology | $64,286 |
Royalties | $0 |
Occupancy | $14,076 |
Travel | $80,497 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $56,548 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $21,955 |
Insurance | $100,668 |
All other expenses | $3,416 |
Total functional expenses | $5,696,160 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $238,612 |
Savings and temporary cash investments | $949,516 |
Pledges and grants receivable | $2,307,520 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $86,915 |
Net Land, buildings, and equipment | $59,406 |
Investments—publicly traded securities | $16,329,219 |
Investments—other securities | $223,088 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $41,925 |
Total assets | $20,236,201 |
Accounts payable and accrued expenses | $456,110 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $456,110 |
Net assets without donor restrictions | $6,950,900 |
Net assets with donor restrictions | $12,829,191 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $20,236,201 |